Olof Sand CEO
Steps during first quarter 2011 1 January 2011: Storyflex with operations in Czech republic and Slovakia becomes a part of Proact on Pro forma revenue last 12 months: 108 MSEK 1 January 2011: 1 April: Databasement - specialist within Storage as a service with operations in The Netherlands, Belgium and Spain becomes a part of Proact Pro forma revenue last 12 months: 180 MSEK B2net - the biggest integrator within our niche in UK becomes a part of Proact Pro forma revenue last 12 months: 500 MSEK Organizational changes Managing and reporting the Proact Group per Business Unit
Which means: Proact is now 60% bigger than 2010 and have a pro forma revenue on 2.2 billion SEK and a potential to become a 3 billion SEK company in 24 months The acquisitions will contribute positive to Proact EPS in 2011 Proact is the largest independent storage and archiving specialist integrator in Europe Proact has operations in 13 countries Proact has the best services offer in the niche storage and archiving; Managing Cloud Services, Customer Support and Financing Services Proact will now and the rest of this year focus on integration and create synergies
Proact in brief Proact is a specialist company within services and solutions for storage and archiving The goal is to be established in most important markets in Europe within the next few years Run-rate revenue, 250M Euro with PBT on 5% The goal is to grow more than twice as fast as the market with a PBT on 7% level 570 employees, of which more than 350 within services Operations in 13 countries
Financial report January December 2010
Income statement January December 2010 (Mkr) Jan-Dec 2010 Jan-Dec 2009 System Sales 923.4 802.9 Services 460.2 447.2 Other 3.5 2.6 Revenue 1 387.1 1 252.7 Products and services -1 025.0-925.8 Gross profit 362.1 326.9 Sales and marketing -171.9-161.8 Administration -118.1-105.1 Operating profit 72.1 60.0 Financial net -2.0 0.1 Profit before tax 70.1 60.1 Net margin 5.1% 4.8% Tax -17.6-7.7 Profit after tax 52.5 52.4 Profit margin 3.8% 4.2% Comments versus last year Revenue Total growth + 11 % Growth system sales + 15 % Growth services + 3 % Growth in pbt + 17 %
Cash flow January December 2010 Liquid Funds December 31, 2009 97 Cash-flow from current operations +64 Current operations +98 Change in working capital -34 Cash-flow from investment activities -41 Acquisition -1 Fixed assets -40 Cash-flow from financial activities -47 Buy-back of shares -19 Dividend -13 Dividend minority -2 Amortization of loan -2 Other -11 Change in liquid funds -24 Liquid Funds December 31, 2010 73
Key ratios Balance sheet (MSEK) 2010 31 Dec 2010 30 Sep 2009 31 Dec Total Assets 871 574 751 whereof Goodwill 75 74 77 whereof Intangible fixed assets 16 17 22 whereof Accounts receivable 433 187 318 Equity 187 165 181 Solidity % 21% 29% 24 % Cash and bank 73 48 97
Revenue and profit before tax January - December 2010 January - December 2009 (Mkr) Revenue P.b.t Net margin Revenue P.b.t Net margin Sweden 544 26.6 4.9% 517 27.0 5.2% Finland 315 21.5 6.8% 217 8.9 4.1% Norway 280 22.2 7.9% 276 23.5 8.5% Denmark 134 0.3 0.2% 130 2.6 2.0% Netherlands 95 3.1 3.3% 54 0.1 0.1% Lithuania 29 2.6 9.1% 71 7.9 11.1% Latvia 18 1.7 9.4% 16 1.3 8.1% Estonia 13-0.9 Neg. 7-2.7 Neg. Other -41-7.0-35 -8.5 Group 1 387 70.1 5.1% 1 253 60.1 4.8%
Financial report January March 2011
Income statement January March 2011 (Mkr) Jan-Mar 2011 Jan-Mar 2010 System Sales 259.6 204.0 Services 135.4 113.2 Other 1.0 0.6 Revenue 396.0 317.8 Products and services -287.3-238.1 Gross profit 108.7 79.7 Sales and marketing -60.4-40.8 Administration -43.7-29.1 Operating profit 4.6 9.8 Financial net -1.3-0.3 Profit before tax 3.3 9.5 Margin 0.8% 3.0% Tax -0.8-2.6 Profit after tax 2.5 6.9 Net margin 0.6% 2.2% Comments versus last year Revenue Organic growth +7 % Acquired growth + 18 % Total growth + 25 % Currency growth +8 % Total growth +33 % Growth system sales + 27 % Growth services + 19 % Profit old Proact: 11,5 (+21 %)
Revenue per industry 12 months April 2010 March 2011 Bank, finans; 5% Media; 4% Övrigt; 2% ; 0 Handel och tjänster; 24% Olja, energi; 12% Tillverkande industri; 13% Offentlig sektor; 22% Telekom; 19%
Cash flow January March 2011 (MSEK) Liquid Funds December 31, 2010 73 Cash-flow from operations -17 Current operations +11 Change in working capital -28 Cash-flow from investment activities -49 Fixed assets -10 Acquisitions -39 Cash-flow from financial activities +39 Bank overdraft facilities +43 Bank loans -4 Change in liquid funds -27 Liquid Funds March 31, 2011 46
Key ratios Balance sheet (MSEK) 2011 Mar 31 2010 Dec 31 2010 Mar 31 Total Assets 999 871 697 whereof Goodwill 143 75 76 whereof Intangible fixed assets 103 16 20 whereof Accounts receivable 371 433 273 Equity 187 187 177 Solidity % 19 % 21 % 26 % Cash and bank deposits 46 73 87 Bank overdraft facilities, utilized 65 - - Bank loans 19 4 5
Revenue and profit before tax per Business Unit January March 2011 January March 2010 (Mkr) Revenue P.b.t Net margin Revenue P.b.t Net margin North 228 9.3 4.1% 223 9.3 4.2% BeNeLux + Spain 77 0.6 0.8% 11-0.8 Neg West 70-0.5 Neg 74-0.2 Neg East 23-3.0 Neg 18 1.8 10.3% Proact Finance 6-0.1 Neg 1-0.2 Neg Other -8-3.0-9 -0.4 Group 396 3.3 0.8% 318 9.5 3.0% Group, organic 339 11.5 3.4%
Proact share Top 10 owners 2011 2011 2010 31 March 31 January 31 December Skandia Liv 10.4 % 10.4 % 10.4 % IGC Industrial Growth Co. AB 10.1 % 10.1 % 10.1 % Swedbank Robur Småbolagsfonder 8.7 % 8.7 % 8.7 % Skagen Fonder 7.8 % 7.8 % 7.9 % Thyra Hedge 5.4 % 5.3 % 5.3 % Öresund Investment AB 5.3 % 5.3 % 5.3 % SEB Fonder 4.6 % 4.6 % 4.6 % Nordea Fonder 3.0 % 2.6 % 2.6 % Didner & Gerge Småbolag 2.7 % 2.7 % 2.8 % Tangent 2.7 % 2.4 % 2.4 % Others 39.3 % 40.0 % 40.1 % Total 100 % 100 % 100 % After the buyback of own shares carried out during May 2010 March 2011, the company holds 154,300 own shares
Share price development since 18 May 2010
Share price development since 2 May 2008
Company Update 2011-05-04
Business around the globe
Focus Areas
Hybrid model 5. mai 2011 page 22
Proact Services As an independent integrator we supply; Professional services Customer support Managed Cloud Services and Financial services Focus areas are; Storage, Backup/Recovery, Archiving and Disaster Recovery Complemented by broad expertise in the IT Infrastructure Proact Services an USP
5. mai 2011 page 24
The Storage and Archiving market, source: IDC 2009 the created volume of digital information increased to 800 billion gigabyte For the years to come, the volume of digital information is forecasted to grow every year by 44 times If that s true, only the growth of digital information in 2020 will be 35 zetabyte
But - How much is that?
Step 1: Take the books in the Millenium-trilogy by Stieg Larsson
Step 2: Put all three of them in a pile multiply by 707 billion
and they will reach from Planet Earth to Planet Pluto Pluto 16 times! Earth
that s a lot!
Storage market 4 year forecast, source: IDC/SNIA
Our industry focus and customers at a glance Lithuanian Parliament City of Tampere June 25, 2008 - Page 32
Main focus areas Profitable growth Operational efficiency Leading innovation
The three phases of the innovation process Innovation and creation Bring it to the market Conceptualize and scale Will it work? Build up competence and experience Let us do it on all markets!
We secure mission-critical information